Pages tagged "AB 2243"

A state Assembly Bill that could eventually impose a medical marijuana excise tax to collect an estimated $77 million annually moved forward Thursday.

AB 2243 by Assemblyman Jim Wood, D-Healdsburg, cleared the Assembly Revenue and Tax Committee without Republican support. It is expected to be heard next in the Assembly Appropriations Committee in the next two weeks.

If moved forward to Gov. Jerry Brown for final approval, Wood said AB 2243 would implement a $9.25 per ounce tax on cannabis flowers, a $2.75 per ounce tax on cannabis leaves and a $1.25 tax on immature cannabis plants from nurseries.

SACRAMENTO April 11, 2016 - California legislative committees are considering two different bills by North Coast legislators to tax commercial medical marijuana.

• SB 987 by Sen. McGuire (Healdsburg) would impose a 15% excise tax on retail purchases of medical marijuana, above and beyond the current 7.5+% sales tax plus various local business taxes assessed by some localities.• AB 2243 by Asm. Wood (Headsburg) would impose a cultivation tax of $9.25 per ounce on medical marijuana flowers, $2.75 per ounce on leaves, and $1.25 on each immature plant sold to licensed distributors in the state.

Cal NORML opposes both bills as excessive and premature, given that the costs would fall exclusively on medical consumers, and Californians are expected to vote on a broader legalize-and-tax initiative this November, the Adult Use of Marijuana Act (AUMA).

SACRAMENTO April 11, 2016 - California legislative committees are considering two different bills by North Coast legislators to tax commercial medical marijuana.

• SB 987 by Sen. McGuire (Healdsburg) would impose a 15% excise tax on retail purchases of medical marijuana, above and beyond the current 7.5+% sales tax plus various local business taxes assessed by some localities.• AB 2243 by Asm. Wood (Headsburg) would impose a cultivation tax of $9.25 per ounce on medical marijuana flowers, $2.75 per ounce on leaves, and $1.25 on each immature plant sold to licensed distributors in the state.

Cal NORML opposes both bills as excessive and premature, given that the costs would fall exclusively on medical consumers, and Californians are expected to vote on a broader legalize-and-tax initiative this November, the Adult Use of Marijuana Act (AUMA).